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Les conséquences du changement climatique pour la politique monétaire

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  • Stéphane Dées
  • Pierre-François Weber

Abstract

Climate change is one of the major challenges central banks are facing, potentially affecting the macroeconomic variables used to underpin their monetary decisions and the channels through which these decisions are transmitted to the real economy. Climate change could affect the policy space central banks have to fulfil their mandate and, owing to increased uncertainty, it could also lead them to consider some of the trade-offs to be faced in a monetary inflation targeting regime. As a result, central banks should not only integrate the effects of climate change into their analyses and models, but also take climate-related risks into account in the development of the instruments used to implement monetary policy. Classification JEL : E52, E58, Q54, Q58.

Suggested Citation

  • Stéphane Dées & Pierre-François Weber, 2020. "Les conséquences du changement climatique pour la politique monétaire," Revue d'économie financière, Association d'économie financière, vol. 0(2), pages 243-257.
  • Handle: RePEc:cai:refaef:ecofi_138_0243
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    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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